LONDON (Dispatches) - The world’s largest crypto, bitcoin, went into freefall, after billionaire Elon Musk fueled speculation in a Twitter exchange that his company, Tesla, may consider selling or has sold its holdings in the cryptocurrency.
“Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings,” a user named CryptoWhale said in a tweet on Sunday. “With the amount of hate @elonmusk is getting, I wouldn’t blame him,” he added.
The price of bitcoin sank almost 8.5% afterwards to as low as $42,441 a coin on Monday in its biggest slump in more than three months, and one of its biggest drops in value since the price first began to soar in January.